Oligarchs, despots, and soccer moms: Reflections on the price of oil (part 2)
Last week, we weighed in on the recent drop in the price of oil. We likened the move to a rock thrown into a pond and cautioned against reaching for the falling knife.
Don't try to catch a falling knife: Reflections on the current price of oil (part 1)
The price of oil has fallen precipitously in recent months. WTI now trades at around $67 per barrel, a far cry from the $100 level attained this past summer.
Lesson of 1909
Last week was a productive one for diplomats. Not only did the U.S. and China sign a landmark climate change accord, the two mega-powers also established military guidelines to govern the contested waters off China and agreed to reduce technology tariffs.
Frogs in the pot
A few weeks ago I attended a lunch with Jean-Claude Trichet. As one might expect from the former head of the European Central Bank, Trichet spoke at length on the economy, quantitative easing and monetary policy.
Worrying signals for Russia’s economy
Two important events involving Russia occurred in the last week. First, Russia amassed a highly suspicious buildup of 20,000 troops on the Ukrainian border. Second, Russia’s yield curve inverted.
Waiting in line: The high cost of red tape
Imagine you spent 4% of your life waiting in line. Given that there are 8,765 hours in a year, this would imply that you spent 350 hours each year staring at the backs of people’s heads.
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